Mannatech Announces Hiring of Sergio Medina as Managing Director of Mannatech Mexico
COPPELL, Texas, Nov 15, 2010 (BUSINESS WIRE) -- Mannatech, Incorporated(NASDAQ: MTEX), a global pioneer in the development of high-quality health, weight and fitness and skin care solutions based on nutritional science, has announced Sergio Medina as managing director of its Mexico business, which is set to open inearly 2011.
"Sergio brings to Mannatech a wealth of global direct selling experience and local community ties, and we believe that establishing a presence in Mexico will provide us great opportunity for growth," said Randy Bancino, president of Mannatech's international business. "We are confident that our high quality, science-based wellness products and generous compensation plan will be extremely well received in Mexico, and Sergio Medina is the right executive to work with and support Associates and customers in Mexico and, ultimately, throughout Latin America."
Medina brings more than 20 years of direct sales expertise, specifically in the health and wellness market based in Mexico. Most recently, he was managing director of ZRII since the beginning of its development across Mexico.
Prior to ZRII, Medina spent more than 17 years at Herbalife Mexico. As managing director/senior vice president of Mexico and Central America, he directed all operations, sales and marketing activities, helping the company grow from $6 million in annual revenue to more than $600 million when he left in 2007.
"There are more than 100 million people in Mexico, many of them looking to supplement their income and make a better quality of life for their families, and I believe Mannatech will help them discover that," said Medina. "That number means opportunity for us, and we plan to show this wonderful country the real possibilities Mannatech has to offer, as well as the unique products that fit perfectly with this market, beginning just two months from now."
According to the Direct Selling Association, Mexico is the sixth largest direct selling market in the world. Currently, more than two million people living in Mexico are involved in direct sales, and they have created more than $3.5 billion in revenue.
Mannatech kicks off its second Pre-Launch Road Show in Mexico this week with events in Guadalajara, Monterrey and Mexico City. Individuals interested in these events or in Mannatech's products and business opportunity can learn more atmexicomannatech.com.
Mannatech, Incorporated, develops high-quality health, weight and fitness, and skin care products that are based on the solid foundation of nutritional science and development standards. These proprietary products are available through independent sales Associates around the globe including the United States, Canada, South Africa, Australia, New Zealand, Austria, Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom, Japan, Taiwan, Singapore and the Republic of Korea. For more information, visit us.mannatech.com.
Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "intend" or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech's inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into new international markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.
SOURCE: Mannatech, Incorporated
for Mannatech, Incorporated
Shawn Paul Wood, 972-499-6614